I have read a very speculative essay theorizing that the Three Rings were, in fact, a way of tapping into the "power" of the Silmarils. There is no hint of this in Tolkien's writings. Indeed there is no hint that the Silmarils possessed any inherent power or use other than their beauty and the corresponding ability to cause others to lust after them.
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Beleriand, Beleriand,
the borders of the Elven-land.
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